This course is about what you can do when everything around you seems to be moving due to digital change. It is about how to handle the disruptive process that tends to unfold in industry nowadays due to digitalisation. The way to handle this is what is here referred to as "Digital Transformation" and at the core of it, it is about understanding how the new business landscape is evolving and heading for a new position in that landscape. It is about corporate strategy.

Ministrado por

Henrik Blomgren

Transcrição

Digital tools have created a system which is far more efficient compared to yesterday. Okay then. That said, right into the topic of digital transformation. Since I said we will follow the music industry, let's start off there. I guess that you might be one of the people on the globe that utilize your smartphone for playing music. In my case. I use a streaming service, like quite a lot of people do today. Yeah. I use Spotify which happen to be a Swedish provider but that's actually just a detail. Now, what do we know what's happened with the music industry? Well, roughly speaking we do know two things. Streaming services have evolved and is extremely important today, and roughly speaking 20 years ago it did not exist. So during that journey something have happened to that the industry. It has disrupted us, a lot of people say. But let's take a really superficial view on this. Why did it happen? Well, one way to understand it, it's actually to look on it as a consumer. How much do you pay today to get music? Well in my case, I pay roughly speaking about €10 per month, because that's the subscription fee that Spotify is charging me. In the early days when I still bought CDs which I did quite a lot by the way, I bought roughly speaking two CDs per month and since I'm Swedish, it did cost me about €30 per month. So what's happened during this time is that I spend less than 50 percent compared to yesterday and still get access to music. Honestly speaking I actually get access to far more music than before. That's what's happened to the overall system, we call the music industry. How could that have happened actually that I get far more for far less compared to previously? Well, it's mainly because digital tools have created a system which is far more efficient compared to yesterday. So roughly speaking what's happened is actually, that we get more for less. That's the overall reason to understand why this kind of change have happened. Of course that raises a lot of questions. Could it happen to other industries? If you believe that, when, and how? That's something we will try to investigate in this course. It's also something that we will look on, concerning the music industry, in order to understand what did actually happen and why did it happen and not the least, why did it not happen? A lot of things did actually not happen. Then how does this roughly speaking happened? While a good overall picture on how it does happen is to use the word messy, because it's a messy time, it's a messy period. It's a stable industrial structure. It becomes very very messy, and then it stable again. Actually that tells us something important concerning digital transformation. It's a process in a period of time. It's not an ever ongoing thing. It's a time period where it changes and during that time period it is rather messy. The music industry today is actually rather stable. That's mainly because it's more or less, well, depending on where on your globe you sit. But more or less confirm that streaming services have taken a strong role. That record stores have been closed. Actually it's not that many record stores left on the globe to close and record labels have changed. So a stable situation, a massive period and then it becomes stable again. But, when it gets table again it's not the same industry structure as in the beginning.